Law360 (July 6, 2020, 6:04 PM EDT) -- Special purpose acquisition company Orisun, represented by Loeb & Loeb, said Monday it is merging with Davis Polk-led Chinese coworking space business Ucommune in a deal valuing the new group at $769 million.
Orisun Acquisition Corp. said in a statement that its wholly owned subsidiary is acquiring Ucommune Group Holdings Ltd., a Hong Kong-based coworking office space company founded in 2015, after which the combined company will trade on the Nasdaq. The new company's value assumes there will be no shareholder redemption and it will receive $44.8 million from Orisun, the statement said.
Special purpose acquisition companies are shell entities that raise money...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!